{"id":65104,"date":"2023-02-10T15:44:41","date_gmt":"2023-02-10T12:44:41","guid":{"rendered":"https:\/\/indexeconomic.com\/?p=65104"},"modified":"2023-02-10T15:44:42","modified_gmt":"2023-02-10T12:44:42","slug":"pif-announces-completion-of-second-green-bond-issuance","status":"publish","type":"post","link":"https:\/\/indexeconomic.com\/?p=65104","title":{"rendered":"<strong>PIF <\/strong><strong>ANNOUNCES COMPLETION OF SECOND GREEN BOND ISSUANCE<\/strong><strong><\/strong>"},"content":{"rendered":"\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p class=\"has-text-align-left\"> The Public Investment Fund (PIF) completed its second green bond issuance which raised USD 5.5 billion to finance or refinance PIF\u2019s green investments, in accordance with its <a href=\"https:\/\/www.pif.gov.sa\/Investors%20Files%20EN\/PIF%20Green%20Finance%20Framework.pdf\">Green Finance Framework<\/a>. \u00a0<\/p>\n\n\n\n<p class=\"has-text-align-left\">The issuance follows PIF\u2019s inaugural green bond in October 2022, the first-ever green bond issued by a sovereign wealth fund and the first-ever 100 year green bond. It will further diversify PIF\u2019s sources of debt funding, in line with its Medium-Term Capital Raising strategy.<\/p>\n\n\n\n<p class=\"has-text-align-left\">This latest bond issuance was more than 6 times oversubscribed, with books exceeding USD 33 billion.&nbsp; It was issued in 3 tranches, comprising:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>USD 1.75 billion (SAR 6.56 billion), 7 years<\/li>\n\n\n\n<li>USD 2 billion (SAR 7.5 billion), 12 years<\/li>\n\n\n\n<li>USD 1.75 billion (SAR 6.56 billion), 30 years<\/li>\n<\/ul>\n\n\n\n<p class=\"has-text-align-left\">The bond was sold to a wide range of institutional investors globally, including Asia.<\/p>\n\n\n\n<p class=\"has-text-align-left\">The issuance reflects PIF\u2019s role as the driver of economic transformation in Saudi Arabia and as one of the largest and most impactful investment funds in the world, in addition to demonstrating PIF\u2019s commitment to its Green Finance Framework.&nbsp; PIF\u2019s Green Finance Framework was created in line with best market practice, and is fully compliant with the International Capital Market Association\u2019s Green Bond Principles 2021 and the Loan Market Association\u2019s Green Loan Principles 2021.<\/p>\n\n\n\n<p class=\"has-text-align-left\">As with its inaugural bond issuance, PIF will allocate an amount equal to the net proceeds of the issuance to fund eligible green projects in accordance with its Green Finance Framework, which include projects in the space of renewable energy, energy efficiency, sustainable water management, pollution prevention and control, green buildings and clean transportation.<\/p>\n\n\n\n<p class=\"has-text-align-left\"><strong>Fahad AlSaif, Head of Global Capital Finance Division said:<\/strong> \u201cPIF\u2019s second green bond issuance underlines the role that PIF is playing in supporting Saudi Arabia\u2019s green agenda, as well as diversifying the local economy and unlocking new and sustainable sectors. Strong demand from international institutional investors for this second issuance is a testament to the ongoing success of PIF\u2019s capital raising strategy, its credit profile and financial strength.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Public Investment Fund (PIF) completed its second green bond issuance which raised USD 5.5 billion to finance or refinance PIF\u2019s green investments, in accordance with its Green Finance Framework. \u00a0 The issuance follows PIF\u2019s inaugural green bond in October 2022, the first-ever green bond issued by a sovereign wealth fund and the first-ever 100 &hellip;<\/p>\n","protected":false},"author":2,"featured_media":65099,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[439],"tags":[],"class_list":["post-65104","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-english-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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